Portfolio Update

European Assets Trust NV
03 July 2007



To:                RNS

From:              European Assets Trust plc

Date:              03-Jul-07



Listing Rule 15



In accordance with paragraph 15.4.11(2) of the Listing Rules European Assets
Trust plc announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 29-Jun-07:




European Assets Trust
Top 10 Holdings
Company                                            % Total Assets
Anglo Irish Bank                                   4.5
Andritz                                            4.4
Nexity                                             3.9
Topdanmark                                         3.7
Kingspan Group                                     3.7
Logitech Intl (Regd)                               3.7
Schoeller Bleckmann                                3.5
Trevi Finanziaria                                  3.3
Arcadis                                            3.3
K&S                                                3.2





For further information please contact:



Michael Campbell

F&C Investment Business Limited

0207 628 8000





                      This information is provided by RNS
            The company news service from the London Stock Exchange
  ND

PFUBXLFBDDBBBBV